Meta Reports Strong Q2 Earnings, Shares Surge

Meta Platforms Inc. reported strong second-quarter earnings for 2024, driven by robust ad revenues and significant advancements in AI. The company's revenue for the quarter was $39.07 billion, a 22% increase year-over-year, beating analyst estimates. Meta's user base grew to 3.27 billion across its apps, with substantial growth in the US and surges in WhatsApp and Threads users. CEO Mark Zuckerberg highlighted the importance of AI investments, which have improved ad targeting and engagement across platforms. Despite warnings of increased capital expenditures for AI infrastructure in 2025, investor confidence remained high, with shares rising by up to 10% post-announcement. Meta's success contrasts with some peers, underscoring its strong position in the digital ad market.